STEVENSON, Md., Jan. 25, 2017 (GLOBE NEWSWIRE) — The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Delaware against Synutra International, Inc. (“Synutra” or the “Company”) (Nasdaq:SYUT) and certain of its officers, on behalf of a class consisting of all persons or entities who are or will be damaged by a vote approving a proposed transaction pursuant to which Synutra will be acquired by Liang Zang, its founder, the chairman of its board and its controlling shareholder, through Beams Power Investment Limited, an entity owned by his wife. Investors who wish to become proactively involved in the litigation have until March 13, 2017 to seek appointment as lead plaintiff.
The Complaint asserts violations of Section 14(a) of the Securities Exchange Act of 1934 and breaches of fiduciary duty. The Complaint alleges that the Preliminary Proxy Statement (“Proxy”), which was filed on December 9, 2016 with the United States Securities Exchange Commission, contains materially false and misleading information.
Specifically, the Complaint alleges that the Proxy omits material information about Synutra’s forecasts, its operating income, its unlevered free cash flow, its profits per share, its free cash flow per share.
Further, the Complaint alleges that the description of the fairness analysis of Synutra’s investment advisor fails to disclose material information and is based upon a market multiples analysis of companies which purport to be peer companies, but are not traded on a U.S. exchange.
If you hold Synutra common stock and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 firstname.lastname@example.org